[jeff]

REG Study Group Links and Resources:

1. NINJA Monthly – $67 REG Course
2. Free REG Notes
3. REG Course Comparison
4. How to Pass REG (with NINJA)
5. How to Pass REG (in 20 Days)
6. How to Pass REG (after Failing)

See Also:

• FAR Study Group
• AUD Study Group
• REG Study Group
• BEC Study Group

[Abe]

I failed Reg when I took it this early march. I knew I failed since I was very unprepared with the sims. I hoped my MC would carry me, but nope. Becker really did help me prepare for the MC, just hoping ninja can help me prepare for the sims. Retaking it early april and hoping to get this over with.

[Tncincy]

@74phoenix, yes I'm in. I have been battling a virus for a few days. Lord knows I can't be sick now it's still tax season, 🙁 . But while I lay in bed and ache, I am listening to the ninja audio, and reading my flash cards. I did come to work, but I am feeling really bad today. I think I am going to go home early and let my clerk make appointments the rest of the day. Hopefully, I am feeling better tomorrow. I am smelling like garlic….I put it in everything. Stay Healthy everybody and study hard.

It begins with a 75
Been here too long as a cheerleader....ready to pass

[74phoenix]

@Abe GOOD LUCK! Keep going!! @Tncincy wow, feel better!! Rest so you can give studying your all!

Graduated 05/2016.
NY CPA Candidate.
Public accounting.
FAR COMING UP 07/07/2016 !! GOD HELP ME.

[CPA]

Hello everyone!

I am taking REG in about a week, and I was working on the AICPA sims. I am having a hard time on solving one of the testlet's 4 sims: Smith & Company CPAs- Form 1120 US Corporation Income Tax Return.

1. Parcel of land @ Wayside Street, Greensburg- I am not understanding how we come up with the amount of $63,763.

2. Color Copier–Looks like we are not considering the 11,000. Not sure why.

3. Why are we not considering the extended two year warranty amount of $3500?

Any help would be really appreciated! Thank you!

[CPA]

Hello everyone!

I am new to this forum and this is my first time posting, but looks like a great way to discuss about the most effective ways to study for the exam, and also give solutions to different questions.

I am taking REG in about a week, and I was working on the AICPA sims. I am having a hard time on solving one of the testlet's 4 sims: Smith & Company CPAs- Form 1120 US Corporation Income Tax Return.

1. Parcel of land @ Wayside Street, Greensburg- I am not understanding how we come up with the amount of $63,763.

2. Color Copier–Looks like we are not considering the 11,000. Not sure why.

3. Why are we not considering the extended two year warranty amount of $3500?

Any help would be really appreciated! Thank you!

[CPA]

Hi everyone!

I am sitting for REG in about a week. I am working on the AICPA practice exam, and I am having a hard time on one of the simulations from testlet 4–Smith & Company CPAs.

1. Land- How do we come up with a basis of land of $63,763?

If anyone has solved this sims can you please share?

Thank you very much!

[Tncincy]

I have been waiting for my NTS to schedule my test for about a month. I found out yesterday that NASBA does NOT mail NTS anymore. How was I to know, go figure. I hope no one else is having this problem.
I'm feeling much better today, still a little clogged up but no aches, no chills….much better. Back to study 🙂

It begins with a 75
Been here too long as a cheerleader....ready to pass

[MelonTea]

Hi, new here and I'm a little confused and need help on the question below:

Robin Drews, a single taxpayer, was divorced in 2018. Robin had the following income and expense items for 2018:

Wages $55,000
Alimony paid to former spouse 5,000
Child support paid to former spouse 4,000
Moving expenses 2,000
Mortgage interest on personal residence 6,000
Credit card interest 1,000
What is Robin's total deductible itemized deduction amount for 2018?

A) $11,000
B) $8,000
C) $7,000
D) $6,000

The answer is A for $11,000. I thought the answer was D for $6,000 since alimony paid to former spouse was not an itemized deduction on Schedule A. I'm not sure whether is answer is wrong or I'm missing something here.

Thanks in advance!

[74phoenix]

Hi @MelonTea, I believe it has to do with the new Tax Cuts and Job Act (TCJA) with the dates of the divorce being key here. The difference is pre-2019 divorces and 2019 onward divorces.

I found an article about this: https://www.marketwatch.com/story/new-tax-law-eliminates-alimony-deductions-but-not-for-everybody-2018-01-23

Take a read through and if you have additional questions let us know!

Graduated 05/2016.
NY CPA Candidate.
Public accounting.
FAR COMING UP 07/07/2016 !! GOD HELP ME.

[MelonTea]

@74phoenix Thanks for helping clear up the confusion. I think I got confused because I thought the question asked for what was included as itemized deductions for Schedule A only . I guess it included alimony even though it goes on schedule 1 because alimony can be deducted whether or not you itemize. The wording was tricky.

[74phoenix]

@MelonTea I definitely agree that the wording is tricky. I don't like that they say “itemize” either.

Graduated 05/2016.
NY CPA Candidate.
Public accounting.
FAR COMING UP 07/07/2016 !! GOD HELP ME.

[CH89]

I agree, that wording is a bit tricky and deceiving. Paying alimony for a divorce prior to 12/31/18 would be a deduction in arriving at AGI, not an itemized deduction. While the mortgage interest would be an itemized deduction. Which review course is that question from? If you don't mind me asking.

[Tncincy]

I'm with CH89. Alimony pre 2018 is taxable income, Post 2018 it is not. Mortgage interest and moving expenses pre 2018 is itemized deductions and post 2018 only mortgage interest. I think there is something missing in the explanation.

On another note: Does anyone know where to find the score release dates? I'm trying to schedule my test and I really don't want to wait too long for score release.

It begins with a 75
Been here too long as a cheerleader....ready to pass

[Tncincy]

@74phoenix, When are you taking Reg? anybody want to post their test dates? I'm trying to decide when to schedule, I certainly don't want to wait too long.

It begins with a 75
Been here too long as a cheerleader....ready to pass

[74phoenix]

@tncincy Reading off my print out from AICPA:
If you take by April 20th, score release is May 7
If you take by May 15, score release is may 23
If you take by May 31, score release is June 11
If you take by June 11 score release is June 19

My test is May 6.

Graduated 05/2016.
NY CPA Candidate.
Public accounting.
FAR COMING UP 07/07/2016 !! GOD HELP ME.

[Author]

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